Published on 5/31/2022 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $1.23 million enhanced return notes on ETFs
Chicago, May 31 – BofA Finance LLC priced $1.23 million of 0% enhanced return notes due Nov. 15, 2024 linked to the least performing of the Industrial Select Sector SPDR fund, the Technology Select Sector SPDR fund and the iShares Global Clean Energy ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the ETFs gain, the payout at maturity will be par plus 1.65 times the index gain of the worst performer.
If any ETF declines by up to 30%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the least performing ETF declines from its initial level.
BofA Securities, Inc. is the selling agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Enhanced return notes
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Underlying assets: | Industrial Select Sector SPDR fund, the Technology Select Sector SPDR fund and the iShares Global Clean Energy ETF
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Amount: | $1,231,000
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Maturity: | Nov. 15, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.65 times any gain in worst performer; if any ETF declines by up to 30%, par; otherwise, investors will lose 1% for every 1% the least performing ETF declines from its initial level
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Initial levels: | $106.90 for Industrial, $167.31 for Technology, $25.08 for Clean Energy
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Threshold levels: | $74.83 for Industrial, $117.12 for Technology, $17.56 for Clean Energy, 70% of initial levels
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Pricing date: | Nov. 12, 2021
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Settlement date: | Nov. 17, 2021
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Agent: | BofA Securities, Inc.
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Fees: | 3%
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Cusip: | 09709UVK1
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